AbbVie Inc (ABBV) stock has risen slightly in the past month. Investors who own this stock have always regarded it as a value investment, because the company's two new drug application are waiting for approval by FDA.
Source: AbbVie Website
AbbVie said on March 30 that that the U.S. Food and Drug Administration has accepted its new drug application for atogepant. This is an investigational orally administered calcitonin gene-related peptide receptor antagonist, for the preventive treatment of migraine in adults who meet criteria for episodic migraine. The company expects a regulatory decision in late Q3 2021.
Migraine is a debilitating neurological disease affecting 39 million people in the U.S. If approved, atogepant will be the first and only oral calcitonin gene-related peptide receptor antagonist specifically developed for the preventive treatment of migraine.
Moreover, AbbVie said on April 2 that the U.S. Food and Drug Administration has extended the review period for the supplemental new drug application for upadacitinib to early Q3 2021. The drug is use for the treatment of adults and adolescents with moderate to severe atopic dermatitis.
RINVOQ (upadacitinib) was approved by FDA in August 2019 for the treatment of adults with moderately to severely active rheumatoid arthritis who have had an inadequate response or intolerance to methotrexate. The company's FY 2020 earnings report shows that RINVOQ's global net revenue was $731 million in 2020.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.